Gross domestic product (GDP) at current market prices by NUTS 2 region in Algarve
Algarve: Gross domestic product (GDP) at current market prices by NUTS 2 region was 14,312 Million euro in 2024. ▲ Rising
Latest (2024)
14,312 Million euro
Change on year
up 8.3%
Rank
327th
of 372 regions
All-time high
14,312 Million euro
in 2024
All-time low
5,028 Million euro
in 2000
Years of data
25
2000–2024
Gross domestic product (GDP) at current market prices by NUTS 2 region in Algarve, 2000–2024
Source: Eurostat. Measured in Million euro.
Analysis
Algarve recorded 14,312 Million euro for gross domestic product (gdp) at current market prices by nuts 2 region in 2024. That is the highest value across all 25 years on record.
The figure is up 8.3% on the previous year and up 91.1% over ten years.
Over the whole period, gross domestic product (gdp) at current market prices by nuts 2 region in Algarve peaked at 14,312 Million euro in 2024 and was at its lowest, 5,028 Million euro, in 2000.
Algarve ranks 327th of 372 regions on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 25 years of available data.
Gross domestic product (GDP) at current market prices by NUTS 2 region in Algarve, year by year
| Year | Million euro | Change |
|---|---|---|
| 2000 | 5,028 Million euro | — |
| 2001 | 5,474 Million euro | +8.9% |
| 2002 | 5,861 Million euro | +7.1% |
| 2003 | 6,179 Million euro | +5.4% |
| 2004 | 6,406 Million euro | +3.7% |
| 2005 | 6,800 Million euro | +6.2% |
| 2006 | 7,224 Million euro | +6.2% |
| 2007 | 7,716 Million euro | +6.8% |
| 2008 | 7,927 Million euro | +2.7% |
| 2009 | 7,505 Million euro | -5.3% |
| 2010 | 7,565 Million euro | +0.8% |
| 2011 | 7,370 Million euro | -2.6% |
| 2012 | 7,160 Million euro | -2.8% |
| 2013 | 7,235 Million euro | +1.0% |
| 2014 | 7,490 Million euro | +3.5% |
| 2015 | 7,841 Million euro | +4.7% |
| 2016 | 8,472 Million euro | +8.0% |
| 2017 | 9,160 Million euro | +8.1% |
| 2018 | 9,639 Million euro | +5.2% |
| 2019 | 10,147 Million euro | +5.3% |
| 2020 | 8,442 Million euro | -16.8% |
| 2021 | 9,419 Million euro | +11.6% |
| 2022 | 11,984 Million euro | +27.2% |
| 2023 | 13,215 Million euro | +10.3% |
| 2024 | 14,312 Million euro | +8.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 6,612 Million euro | 5,028 Million euro | 7,927 Million euro | 10 |
| 2010s | 8,208 Million euro | 7,160 Million euro | 10,147 Million euro | 10 |
| 2020s | 11,474 Million euro | 8,442 Million euro | 14,312 Million euro | 5 |
More economy & growth data for Algarve
- Gross domestic product (GDP) and Gross value added (GVA) in volume by 135.8 Index, 2020=100 (2024)
- Average annual population to calculate regional GDP data (thousand) 488.44 Thousand (2024)
- Gross value added at basic prices by NUTS 3 region 12,446 Current prices, million euro (2024)
- Gross domestic product (GDP) at current market prices by NUTS 3 region 14,312 Million euro (2024)
- Economic accounts for agriculture by NUTS 2 region - values at 0.57 Million euro (2024)
- Economic accounts for agriculture by NUTS 2 region - values at n-1 0.82 Million euro (2024)
- Income quintile share ratio S80/S20 by NUTS 2 region 4.6 Index (2025)
- Economic accounts for agriculture by NUTS 2 region - indices 69.78 Index, n-1 = 100 (2024)
- Agricultural land prices by region 27,401 Euro per hectare (2024)
- Agricultural land renting prices for one year by region 493 Euro per hectare (2024)
Frequently asked questions
- What is gross domestic product (gdp) at current market prices by nuts 2 region in Algarve?
- Gross domestic product (gdp) at current market prices by nuts 2 region in Algarve was 14,312 Million euro in 2024, according to Eurostat.
- What is the highest gross domestic product (gdp) at current market prices by nuts 2 region recorded in Algarve?
- The highest recorded value was 14,312 Million euro in 2024.
- What is the lowest gross domestic product (gdp) at current market prices by nuts 2 region recorded in Algarve?
- The lowest recorded value was 5,028 Million euro in 2000.
- How does Algarve rank for gross domestic product (gdp) at current market prices by nuts 2 region?
- Algarve ranks 327th out of 372 regions with data for 2024.
- Is gross domestic product (gdp) at current market prices by nuts 2 region rising or falling in Algarve?
- Over the last ten years it is up 91.1%. The long-run trend across the full record is rising.
- Where does this Algarve data come from?
- The figures come from Eurostat, published as part of Gross domestic product (GDP) at current market prices by NUTS 2 region. Statizoid updates them automatically from the source API.
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